[snemvalts]

For Russian one - Putin controls all of the companies in a way. Shareholders have no say. This is reflected by the markets. Market cap of the exchange was 700b, largest US tech companies are larger on their own. For Ukrainian one - the country might not exist in a few weeks in the current state.

If you want to play on the effects of the conflict, either buying or shorting the ruble is the best way to go.